As a general rule, the most successful man in life is the man who has the best information
by Richard (Rick) Mills
Ahead of the Herd
Cleaner skies owing to covid-19 lockdowns appear to be the silver lining of the global economy crashing to a sudden halt in March.
In fact new evidence shows that high-polluting energy sources were on the wane, even before the coronavirus pandemic.
According to the International Energy Association (IEA), fossil fuel usage in electricity generation dropped by 245 terawatt hours (Twh) last year, while renewables production rose by 119 Twh. (put in context, Scotland, with a population of just over 5 million, requires an annual 25 Twh of electrical energy; global energy demand per year is roughly 160,000 Twh)
The organization’s executive director recently said that turmoil in the oil sector caused by covid-19 should be seen by governments as an opportunity to embrace green energy. In an interview with Reuters, Faith Birol said lithium-ion batteries and the use of “electrolyzers” to produce hydrogen, should be candidates for government subsidies and policy support.